NCLAT revives Walchandnagar Industries' insolvency plea against Swaraj India Agro on SC direction
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The National Company Law Appellate Tribunal restored an appeal by Walchandnagar Industries against Swaraj India Agro following a Supreme Court order.
- ✓The dispute involves unpaid operational debts from a 2013 sugar plant project.
- ✓The tribunal issued a notice to Swaraj India, asking for a reply within four weeks from Thursday.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Synopsis
The National Company Law Appellate Tribunal restored an appeal from Walchandnagar Industries against Swaraj India Agro. This restoration followed a Supreme Court order canceling a previous dismissal of Walchandnagar's insolvency petition. The NCLAT issued a notice directing Swaraj India to respond within four weeks. The dispute involves operational debts related to a sugar plant project initiated in 2013. The NCLT earlier dismissed both companies' petitions citing pre-existing disputes.
New Delhi: The National Company Law Appellate Tribunal (NCLAT) has restored an appeal by Walchandnagar Industries challenging the dismissal of its insolvency petition against Swaraj India Agro and has issued notice.
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The Economic Times
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